American International Group (AIG) has finalised its planned leadership change, with Eric Andersen becoming president and CEO and joining the board on 1 June 2026.
He succeeds Peter Zaffino, who has moved into the role of executive chair.
AIG’s board outlined the succession plan in January this year.
Andersen was then formally named president and CEO-elect and, during the transition period, reported to Zaffino before taking up the top post.
Andersen joins the insurer from Aon, where he most recently served on the executive committee as an adviser to the president and CEO.
Over almost 30 years at Aon, he held a series of senior positions including president and CEO of Aon Benfield and CEO of Aon Risk Solutions Americas.
From 2020 to 2025, he was responsible for global programmes centred on improving operational efficiency, strengthening performance and increasing market capitalisation.
Commenting on his appointment, Andersen said: “I want to express my appreciation and gratitude to Peter Zaffino for his tremendous leadership, tireless commitment and contributions in transforming AIG and restoring the company to its market leadership position.
“I am honoured to serve as AIG’s next CEO and want to thank Peter and the AIG Board of Directors for the opportunity to lead this iconic company. Since joining AIG in February as president and CEO-elect, I have had the opportunity to engage with our valued clients and stakeholders around the world.”
Zaffino had led AIG since March 2021.
During his tenure, the company reshaped its strategy through the sale of non-core operations, investment in talent development and upgrades to its technology systems.
Both Zaffino and Andersen are due to discuss the transition during AIG’s first-quarter 2026 earnings conference call on 1 May 2026.
Zaffino added: “Serving as chairman and CEO of AIG has been an immense privilege, and I am very proud of the many milestones we achieved as a company during that period.
“I am very confident that Eric’s extensive insurance expertise, significant industry relationships and strong focus on growth will serve AIG exceptionally well as the company continues to execute against its strategic priorities.”
Earlier in January, AIG also named Adam Clifford as CEO of international commercial insurance, effective from 5 January 2026.
In that role, Clifford is responsible for underwriting, distribution and business teams across the UK and Europe, Asia-Pacific, the Middle East and Africa, Japan and Latin America.
“AIG names former Aon executive Eric Andersen as CEO” was originally created and published by Life Insurance International, a GlobalData owned brand.
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